What is a competitive advantage?

A competitive advantage refers to the unique attributes or conditions that allow a company to outperform its competitors in the market. This can manifest in various forms, such as superior technology, exemplary customer service, or unique product offerings. By being in a superior position relative to competitors, a company can attract more customers, increase market share, and ultimately enhance its profitability.

In the context given, option B accurately defines competitive advantage since it emphasizes the company's positioning in relation to its rivals. This positioning could stem from several factors, including cost advantage, brand loyalty, or product differentiation, that are not easily replicated by competitors.

The other options do not accurately capture the essence of a competitive advantage. For instance, a product feature that is more expensive does not necessarily indicate a superior competitive position, as pricing strategies can vary widely. Similarly, a strategy focused on employee relations with competitors does not directly translate to an advantage in the market. Highlighting weaknesses through advertising is counterproductive and would not contribute toward establishing a competitive edge. Thus, option B stands out as the correct and comprehensive definition of competitive advantage.